Nov 4, 2020

Monarch Realty Co.

The former home of American Underground in downtown Raleigh is now the headquarters of a local real estate firm as the company gears up for explosive growth planned for the year to come.

Last week, Raleigh-based Monarch Realty Co. officially opened its new offices at 213 Fayetteville St., featuring coworking-style spaces for brokers as well as office space on the upper floors.

“At Monarch, we started in and know downtown Raleigh, but now, we want to help everyone find their part of our city,” said Chris Moore, broker-in-charge and office manager at Monarch Realty Co. “We feel a sense of responsibility to help shape the future and fabric of the city we all want to live in, and this is another step forward on that path.”

Monarch Realty Co.

The move comes as Monarch looks to expand from around 20 brokers currently to well over 100 in the coming year “We’re really hoping to lead the charge back,” Moore said.

Altogether, the new office features 5,000 square feet of office and meeting space, with space on the ground floor for Monarch brokers and private office and meeting space above.

Monarch Realty Co. owner Jason Queen said this new model will allow brokers to better serve their clients.

“We want to be on the leading edge of what a real estate brokerage firm can be and offer to their brokers. The future of firms is in coworking, which is something we plan to fully embrace to help increase and expedite the success rate of each of our brokers,” he said. “We are excited for our hybrid brokerage and coworking model, which is also the reason we chose this prime Fayetteville Street location.”

Queen also owns Transfer Co. Food Hall, Work Hall and Ballroom, and Mama Crow’s Burger and Salad Shop.

Earlier this year, Transfer Co. quietly expanded its food hall, market and gathering space with the launch of Transfer Co. Work Hall, a new 4,000-square-foot, 50-plus desk space designed to foster growth for fledgling startups.

Moore said Monarch had its eye on the new space at 213 Fayetteville for some time. Years ago, it was home to the American Underground coworking space. They moved out in 2015 and were replaced by a coding school, The Iron Yard Academy. Iron Yard shut down its Raleigh operations in 2017.

Triangle Business Journal – November 2, 2020

By Caleb Harshberger, Staff Writer

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